The National Board of Revenue (NBR) has initiated a comprehensive study to assess the impact of US tariffs on trade between the two countries, according to NBR Chairman Abdur Rahman Khan.
The research aims to pinpoint which products are most affected by the tariffs and determine the extent of duties imposed, amid rising concerns about the country’s trade competitiveness. Khan explained that the study is currently in the data-gathering phase, focusing on US-origin products, the duties applied to them, and their relative value.
“We are analyzing the data from various angles to identify the products facing the highest duties and to understand the implications of quota restrictions,” Khan said in an interview. “This process is essential for informed decision-making. We need to gather accurate data first before determining which products are most and least impacted by import duties.”
Once the research is completed, discussions will be held to develop appropriate strategies, Khan noted. A high-level meeting convened by the finance ministry is scheduled for next Sunday to review the study’s findings and formulate a response strategy.
“This issue is of global significance, and we are also observing how neighboring countries are addressing it,” Khan added. “Authorities will take prompt action, ensuring that all relevant stakeholders fulfill their roles as needed.”
Regarding concerns over Bangladesh’s 74 percent tariff on US products, Khan said the NBR is verifying the claim. “It’s possible that the highest tariffs on one or two items have been highlighted. We are currently investigating the details.”
Khan further explained that the tariff calculation involves multiple components such as customs duty, supplemental duty, advance tax, income tax, and trade VAT, collectively known as Total Tax Incidence. “The tax structures vary for different products, and we are analyzing the precise figures to clarify the situation,” he concluded.
